Guideline Value for V.O.C. STREET

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Karapakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of V.O.C. Street has changed

The guideline value for V.O.C. Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 2,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft.

Looking at the changes, from 2007 to 2012, there was a remarkable increase of 400%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase, leading to an overall increase of 450% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value in this village is Rs 1,700 per sq.ft, placing V.O.C. Street's 2024 figure above this median.

• V.O.C. Street Cross: Rs 2,200 per sq.ft (2024)
• Vethapuri Street: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet Extension: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet: Rs 1,100 per sq.ft (2024)
• VENDRASI AMMAN KOIL 1st CROSS STREEET: Rs 1,100 per sq.ft (2024)
• Vembuli Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.O.C. Street?

The Sub Registrar Office that covers V.O.C. Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Karapakkam

The guideline value plays a crucial role during property registration in Karapakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers should be aware that the guideline value is often a key factor in the overall cost of property transactions.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees. This ensures that the registration reflects the true value of the transaction, safeguarding both the buyer and seller's interests.

Frequently asked questions

What is the current guideline value of V.O.C. Street?

The current guideline value of V.O.C. Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 450% over the years.

What are the other streets in Karapakkam with their guideline values?

Other streets in Karapakkam include V.O.C. Street Cross at Rs 2,200 per sq.ft, Vethapuri Street at Rs 1,100 per sq.ft, and several others all listed above.

What are the stamp duty and registration fees for property in V.O.C. Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property, the total fees amount to Rs 1,98,000.

Which office handles registrations for V.O.C. Street?

The Neelankarai Sub Registrar Office handles registrations for V.O.C. Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.